Saturday, May 27, 2023

Congressman Auchincloss: An update covering the last 2 weeks

LAST 2 WEEKS IN REVIEW

I'm your Representative in Congress and I write to keep you informed. Michelle, Teddy, Grace and I are thrilled to welcome Audrey to the family.

On the Hill

Update on the Debt Ceiling: The United States has always paid its bills on time, and Congress must ensure it continues to. Default would be devastating to the economy broadly and to retirement accounts in particular. It would also undercut American influence globally.

Last week, I joined my Democratic colleagues in the House to sign a discharge petition that would allow for a vote on a clean debt ceiling increase. It would end the game of chicken that is threatening the full faith and credit of the U.S. government, and convincing a handful of moderate Republicans to join remains the best option. More likely, at the time of writing, is that President Biden and Speaker McCarthy negotiate a deal that Congress then votes on.

Economic Competition with the Chinese Communist Party: Last week, I participated in a hearing on economic competition with China. I spoke about the need to ensure high-quality math education, promote basic research, and improve our business and investment environment. Our economic competitiveness agenda should not aim for heavy-handed industrial policy, but rather to invest in the basics of education, science, infrastructure, and streamlined government. If we can execute, then we need not fear China's hold on the economic future. We will build it ourselves.

Asserting Congressional Authority: I recently spoke on the House floor about my bipartisan bill, the Power of the Mint Act. The Federal Reserve and the Treasury have been considering issuing a central bank digital currency (CBDC), a crypto proposal. My bill pumps the brakes and makes it clear that any administration would need congressional approval to mint a CBDC.

Pharmacy Benefit Managers Hearing: This week, I spoke about lowering prescription drug prices at the House Oversight Committee's hearing on Pharmacy Benefit Managers (PBMs). PBMs are the middlemen of prescription drugs. I outlined how Congress must enact comprehensive reform aimed at PBMs to meaningfully lower costs for American families and support community pharmacists. Piecemeal legislation would just squeeze the balloon, when the objective must be to pop the gross-to-net bubble.

Affordable Housing: The cost of housing is the biggest problem facing Massachusetts. I sat down with the North Star Reporter to discuss my approach.

On the federal level, I am working to support supply-side solutions that expand the availability of housing, particularly through the low-income housing tax credit. We must build all types of housing, including single family, multi-family, mixed use, and accessory dwelling units. This all-of-the-above approach will drive down housing costs across the market and provide much needed relief to homebuyers.

Make your voice heard → Do you think building more housing is a priority?

Do you support building more housing?

Around the Fourth

Congressional Art Competition: Congratulations to Angela Nie of Newton North High School for winning this year's Congressional Art Competition. Scores of students and parents gathered at the Attleboro Arts Museum to view each others' work and to celebrate the judges' top picks. Angela's painting was selected from more than 60 pieces of local artwork that were submitted for this year's competition and will be featured for one year in the U.S. Capitol building. This year, the judging panel included Mim Brooks Fawcett of the Attleboro Arts Museum, Seline Smith of the New Art Center in Newton, and Robin Wessman, a painter from Sharon.

Brookline's AAPI Heritage Day: I celebrated Asian American and Pacific Islander (AAPI) Heritage Month at Brookline's First Annual AAPI Heritage Day. Teddy and I enjoye`d seeing dance, puppet shows, and more.

Our country is made stronger through the contributions and experiences of the AAPI community. Especially in an era of tension with the Chinese Communist Party, we must not allow competition overseas to incite bigotry at home.

Academy Night: I am hosting a Virtual Military Service Academy Night on June 5th from 7:00PM to 8:15PM. My staff and I, along with representatives from the five United States Service Academies, will provide information on the Congressional nomination process and what it's like to attend a U.S. Service Academy. If you are interested in joining, please register here.